Step 1: Project Free Cash Flow
The most recent Free Cash Flow (TTM) value is
28.14M
as of Jun 30, 2025.
We will project this out 5 years with a yearly growth
rate of
0.08%.
Starting with 28.14M and growing at 0.08%
for 5 years, we estimate Free Cash Flow will be
28.25M.
Step 2: Project Future Diluted Shares Outstanding
The most recent Diluted Shares Outstanding value is 11.21M.
We will project this out 5 year(s) with a growth rate
of 0.46%.
Estimated Diluted Shares Outstanding: 11.47M.
Step 3: Project Future Stock Price
Using a price ratio of 9.14, formula: (Future Free Cash Flow ÷ Future Diluted Shares Outstanding)
× Price Ratio
(28.25M ÷ 11.47M) × 9.14 =
$22
Step 4: Project Future Dividends Paid
Forward dividend per share: $1.81.
Projected over 5 years with a growth rate of
-2.23%, dividends add to total shareholder return.
Expected dividends in 5 years:
$8.553869438991995.
Step 5: Discount the Projected Stock Price
Projected stock price: $22.
Including dividends, total future value: $30.55.
Discounted at 10% per
year over 5 years → Fair Value:
$18.
